News
Foreign exchange movements push AirAsia Thailand parent into loss
May 15th 2024
Asia Aviation Public Company Limited (AAPC), parent of Thai AirAsia (TAA), has reported a net loss of 409.1 million baht (US$11 million) for the three months to March 31 compared with a net profit of 359.4 million baht in the same months in 2023. Read More » But revenue rose 43%, to 14 billion baht, AAPC said in a regulatory filing. The net loss was a consequence of a weaker Thai baht, it explained. When the impact of these foreign exchange losses was removed, AAPC reported a “core” net profit of 1.6 billion baht for the quarter compared with a 203 million baht net loss in the matching months last year. “Passenger volumes continued to grow from the last quarter of 2023 with load factor reaching a record high of 93% from October to December,” AAPC and TAA CEO, Santisuk Klongchaiya, said. “Our domestic market share by this March 31 also was a record high, at 40%, an affirmation of our brand’s leadership. We have seen exceptional growth in our international operations during the quarter.” The LCC is maintaining its target for 20 million to 21 million passengers in calendar 2024 with a forecast passenger load factor of 90%.
